India Allocates $1.25 Billion for AI Development

The Indian Cabinet has approved the allocation of over 103 billion rupees (approximately $1.25 billion) for the IndiaAI initiative, which aims to “empower AI startups and expand access to computing infrastructure.”

A landmark day for tech and innovation! The Cabinet’s approval for the IndiaAI Mission will empower AI startups and expand access to compute infrastructure, marking a giant leap in our journey towards becoming a global leader in AI innovation. https://t.co/NyCAiMLoHs https://t.co/bXfb6PwpgK

— Narendra Modi (@narendramodi) March 7, 2024

Indian Prime Minister Narendra Modi described it as a “landmark day for tech and innovation.” According to him, the decision “marks a giant leap in the country’s journey towards becoming a global leader in AI innovation.”

The collaboration between the government and private companies involves deploying over 10,000 computing processors to scale AI infrastructure in the country.

“The initiative will catalyze the development of the AI ecosystem in India and make it a force shaping the future of the industry for the country and the world,” stated local Minister of Electronics and Information Technology Rajeev Chandrasekhar.

According to a press release, IndiaAI will facilitate access to funding for budding AI startups and accelerate their journey from product development to commercial operations.

The broader mission of the country is to strengthen India’s global leadership in artificial intelligence, promote technological self-reliance, and democratize the benefits of AI for all segments of society.

In November 2022, Chandrasekhar called for the development of global standards to ensure AI safety for humans.

In March 2024, the United Kingdom and France announced the allocation of £800,000 for joint research in the field of artificial intelligence.